The global internet protocol television market is anticipated to expand at a CAGR of 6.8% during the forecast period, 2021-2028. The growth of the market is attributed to rising trend of watching online content the Internet. Moreover, continuous price reduction of bundled packages is expected to spur the market growth.
Internet protocol television (IPTV) is delivery of television content over internet protocol networks. The distribution of content is online unlike conventional TVs that use cable networks. Internet protocol television is widely by subscriber based telecommunications networks that provides channels to end-user premises through set top boxes or other equipment.
IPTV is also used for media distribution around corporate and private networks. It supports both live TV and video on-demand. An Internet protocol television is a secured and reliable delivery network for subscribers that consume entertaining content. It generally utilizes IP multicasting with Internet Group Management Protocol (IGMP) for live television broadcasts. The objective of IPTV is to curtail the cost of media broadcast solution integration, to boost the profitability, and to introduce services that are not limited to broadcasting technologies. IPTV does not require high investment in infrastructure, which does require in traditional cable TV.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising trend of Internet usage in households due to the COVID-19 pandemic is driving the growth of the market.
- Improving quality of content due to the high-speed Internet is expected to propel during the forecast period.
- Increasing inclusion of high definition (HD) channels is speculated to spur the market growth.
- Lack of awareness about the Internet ecosystem can restraint the growth of the market.
- Rapid improvements in the data accessibility can act as an opportunity in the global Internet protocol television market.
Internet Protocol Television Market Segment Insights:
Subscription based IPTV segment to account a large market share
On the basis of subscription types, the market is divided into subscription-based IPTV and subscription free IPTV. The subscription based IPTV segment accounted for over 50% of the market share in 2020, in terms of revenue. Rising demand for advertisement-free content and uninterrupted viewing experience is facilitating the adoption of subscription services. The service providers have started offering enticing offers to its paid subscribers as a part of the customer loyalty program. In 2020, The subscription free IPTV segment accounted for a significant share of the market owing to the ability of people to pay for selected services or events without paying for unwanted content. The cost-effective solution to users has facilitated wide scale adoption of the subscription free model across the globe.
North America to accounts a significant market share
Based on the regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for over 45% of the market share in 2020, in terms of revenue. High penetration of the Internet and rapid adoption of smart TVs are some of the key factors driving the regional market growth. The rapid shift from cable to wireless media delivery is further propelling the market growth in the region. In 2020, Asia Pacific held a large market share during forecast period owing to the rising investment in the R&D activities undertaken by telecom companies to offer cost-effective adoption of IPTV in emerging economies such as India and China.
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